RE: RNS16 Mar 2018 09:27
Update on Unsecured Convertible Loan Note Facility
EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces that further to the statement of 28 February 2018, the Board of Directors has decided not to proceed with any further draw down amounts under the Unsecured Convertible Loan Note Facility Agreement of up to �7.5 million ("Loan Notes").
In addition, the Company has agreed in principle, and is in preliminary discussions with the investor and the Company's advisers, to cancel the Loan Note Agreement, and for the redemption of existing amounts outstanding at the earliest opportunity.
A further announcement will be made in due course as appropriate.